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ASG Plastic Factory will price shares in its Nomu IPO somewhere in the SAR 40-44 range, its financial advisor and lead manager Yaqeen Capital said in a statement to Tadawul yesterday. The plastics maker is planning to take a 10.6% stake to Tadawul’s parallel market.
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Market cap + proceeds: The pricing gives the company a post-listing market cap of up to SAR 310 mn and could see it take up to SAR 33 mn in proceeds by our math.
Use of proceeds: ASG plans to use the proceeds — after deducting SAR 3 mn in offering fees — to support growth. The plan sees the company raising its current production capacity by 50% with further increases planned in the coming years, it said.
What’s next? Qualified investors will start placing orders on Sunday, 28 July, until Monday, 5 August, for a minimum of 10 shares and a maximum of 352k shares each. The final allocation of shares will take place on Sunday, 11 August.
ADVISORS- Yaqeen Capital is serving as the financial advisor and lead manager, while Al Rajhi Capital, Riyad Capital, Alinma Investment, AlJazira Capital, SAB Invest, Derayah Financial, BSF Capital, SNB Capital, Alistithmar Capital, Albilad Capital, ANB Capital are all receiving agents.
